Bitcoin: As $65K floor faces mounting pressure, is $60K BTC’s next stop?

On the 22nd of February, Bitcoin [BTC] fell 5.08% from $67,730 to $64,290. This kind of volatility towards the end of Sunday has been a recurring theme in recent weeks.

Even so, it caught many traders unawares. According to CoinGlass, $206 million worth of long BTC positions were liquidated in the past 24 hours, and only $4.8 million in short positions.

These figures were tame compared to what was recorded on the 6th of February. Bitcoin is likely headed to $60k once again. At the time of writing, BTC has bounced back above $65k.

Speaking to AMBCrypto, Stephen Coltman, Head of Macro at 21shares, asserted the importance of the $65k floor.

“Bitcoin has been trading within a narrow range for the past two weeks between 65k and 70k, and bulls will be wanting to see 65k hold as a floor. Conversely, a sustained move above 70k would indicate the recent selling may have exhausted itself.”

Bitcoin bulls battle against seller dominance

A crypto analyst warned of a volatile Monday to start the week off. A 15% global tariff and escalation to the U.S.-Iran conflict were pointed to as some reasons why bearish uncertainty prevailed.

The weekly timeframe’s candlewick to $60k left behind earlier in the month was likely to be filled over the next 2-3 weeks, the analyst expected.

This expectation was reinforced by the seller’s dominance recently. The exchange netflow has been positive for the better part of the past month.

Additionally, the Coinbase Premium Index was negative throughout 2026, except for just two days.

The metric measures the price gap between the BTC/USD pair on Coinbase and the BTC/USDT pair on Binance. Hence, it reflected sustained selling pressure from investors based in the United States.

Moreover, the whale inflow ratio remained high. It measures the BTC inflows from the 10 largest transactions to the total inflows. This way filters out whale transactions, and the weekly moving average makes trends more visible.

Therefore, the extremely elevated 7DMA whale inflow ratio reinforced the seller dominance. Overall, swing traders can maintain a bearish bias. Long-term investors can remain sidelined.

Final Summary

• The short-term range between $65k and $70k might be broken over the next two to three weeks as the $60k target becomes more likely to get tagged.
• A high whale inflow ratio and persistently negative Coinbase Premium reflected distribution trends.